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One of the last things Shoichiro Toyoda did as honorary chairman at Toyota Motor Corp., was to assemble all of the company's executives and give them a tongue lashing. Toyoda even called out president Katsuaki Watanabe and blamed those in charge of the Japanese automaker for leaving behind the company's long-standing business practices to chase the quick-buck. He said they followed the lead of now-bankrupt automakers like GM and Chrysler, a path that has put the company in a serious financial bind.
While Toyota has posted significant profits for years, last year it posted a $4.5 billion loss and expects to lose even more ($5.7 billion) next year.
Toyota has always been known for building economical cars and for using a business practice called kaizen, where small improvements are constantly made to improve products. It is expected that Akio Toyoda (pictured above), the new Toyota president and grandson to the company’s founder, will once again begin to return the company to an economically-minded, slow growth corporation. Akio will officially take over the Toyota helm tomorrow.
Industry experts also believe that in order for Toyota to stay on top it must not only move away from luxury cars and large trucks, but it must also look outside the United States and develop vehicles for emerging markets.
precisely! Toyota vehicles are hardly what they were even 15 years ago.
The new land cruiser is like what, 70K?
Ridiculous.
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Toyota has had a great reputation for quality, but that has slipped in the past few years. I have a feeling the grandson will be able to turn things around.
I really wanted a LC, but the price was way out of reach and therefore my FJ. Luckily IMO the quality is still there. Yes there is plastic, but it's good plastic.
It will be interesting to watch Toyota to see the change.
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The best response to that article . . . "Hindsight is always 20/20" That "path of GM and Chrysler" also made Toyota a boat load of money over the last 20 years.
A well-led business like Toyota should have enough "reach" to be able to chase the quick buck and still maintain sight of their long term goals.
This guy sounds like all those people that keep things bottled up and then, on the day they quit or get fired, they spout out at everyone with verbal diarrhea. IMO.
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This guy sounds like all those people that keep things bottled up and then, on the day they quit or get fired, they spout out at everyone with verbal diarrhea. IMO.
x2 It just doesn't make sense to wait until your last day to say things are going wrong. To give him credit maybe he had been saying the same things for a while and just wanted to beat things into shape one more time before he left.
Glad to see that Toyota recognizes its on the wrong path though.
x2 It just doesn't make sense to wait until your last day to say things are going wrong. To give him credit maybe he had been saying the same things for a while and just wanted to beat things into shape one more time before he left.
Glad to see that Toyota recognizes its on the wrong path though.
I agree with both of your statements.
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Visit the Woodsman here and hereand hereGot a Sandstorm ? Go here !
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precisely! Toyota vehicles are hardly what they were even 15 years ago.
The new land cruiser is like what, 70K?
Ridiculous.
Yeah, but consider this. The cost of raw materials is rising, and the expectations of U.S. consumers is also. If you made a Toyota today like they did back then everyone would complain about the lack of high-end leather, navigation systems, sonar, etc...
You can't have it all....
I paid 50k for a new Tundra because it had the creature comforts I wanted, and because it was built on a Toyota reputation of reliability. It's a brand that I trust and I'm glad I didn't give that money to GM.
Money talks. It's a free market society. If you don't like it, don't buy it. They will notice, and adapt. And that's exactly what they are doing now.
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